Common use of Reliance on Authority Clause in Contracts

Reliance on Authority. In its dealings with the Partnership, a third party may rely on the authority of the General Partner to bind the Partnership without reviewing the provisions of this Agreement or confirming compliance with the provisions of this Agreement.

Reliance on Authority. In its dealings with the Partnership, a third party may rely on the authority of the General Partner to bind the Partnership without reviewing the provisions of this Agreement or confirming compliance with the provisions of this Agreement; however, as between the Partners and as between the General Partner and the Partnership, the authority of the General Partner to act on behalf of the Partnership shall be determined from the pertinent provisions of this Agreement.